According to him XXXIV Delinquent Debt Report elaborated by the San Sebastian University and Equifax -corresponding to the months of July, August and September 2021, delinquent debtors reached 4,037,742 people. .
And to find solutions to this type of complex situation, there are 4 real and effective ways to get out of debt, providing legal options.
renegotiating
If at this moment the interest and monthly installments you are paying are very high and you do not have enough money to live, then you can approach the company and, for example, reach an agreement in which the installments increase but the monthly value you pay is much smaller.
Prescription
The debts have an expiration term, where the company will not be able to continue looking for you to pay them and you will be free, you will not have to continue paying.
“In Chile, debts expire after 5 years, but you have to be careful, because as long as they have not expired, the company can still sue you and therefore take your things. This is a good solution only if the company you You must not have carried out a collection action in a long time. If more than 1 year has passed without news, then it is unlikely that they will continue with the process and then it is convenient for you to wait for the prescription “ ensures Armando De Laire ForttesLawyer and Founding Partner of Goodbye Debtslegal team that supports debtors.
Bankruptcy Law
This option allows you to start from scratch and extinguish debts permanently. The law gives the debtor the option of auctioning off his assets and paying the debt with the money obtained. Here it does not matter if the assets are few and the debt is very large, what is taken from the profit will be enough to pay off everything. This law also provides the option to renegotiate debts with better benefits.
Making the payment
Finally, it is the most obvious sounding option, but it is not accessible to everyone. Many people pay more than they earn and have millionaire interests that they cannot afford, entering the vicious circle of the “Financial Bicycle”, where you ask for loans to pay other loans constantly.
